They want this from a partner or whatever...for a for-profit partner...good luck wit daht

"in the amount of at least $15 Million AND (b) at least one year of balancesheet cash (as demonstrated by its most recent financial statements andpro-forma for any concurrent investment) based on the last twelve months(LTM) operating cash burn rate"

so we are talkin bout 35 mil investment from a source other than CIRM,seeing how our operating burn was roughly 21 million in 2011

3. Statement of Benefit to California (up to 3000 characters in Part A) Describe in a few sentences how the proposed research will benefit the State of California and its citizens. This Statement of Benefit will become public information and will be available online; therefore, do not include proprietary or confidential information or information that could identify applicant (e.g., PI name, applicant institution name or location).

The one wild card which really would change things here is a JV with a name brand pharma or some infusion of cash that takes the possibility of running out of money and needing more dilution off the table. RS wouldn't even be needed if that happened. Something exciting need to happen financially to match the exciting things happening scientifically.

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